Posts Tagged Michigan FBAR attorney

U.S. taxpayers are required to report offshore financial holdings. This includes bank accounts, certificates of deposit, offshore brokerage accounts and even some life insurance products. Reporting is done annually on a Report of Foreign Bank and Financial Accounts, more commonly known as an FBAR form. (Depending on how those assets are held, there may be [...]

We have been warning people for 2 years that the day of reckoning was coming. Sure, there were some false starts and last minute political moves, but the waiting is over. Switzerland and the United States have reached an agreement that will result in the names of tens of thousands of U.S. taxpayers holding Swiss [...]

Much of mainstream media has been focussed on the government’s efforts to ferret out unreported Swiss bank accounts. Indeed, the government has scored huge wins with its high profile cases against UBS and Wegelin. The unreported story concerns undeclared accounts in Israel, India and a host of other countries. Americans are required to report all [...]

Offshore Accounts and FBAR Requirements U.S. law has long required taxpayers with offshore financial interests to report their holdings to the IRS. The Bank Secrecy Act requires that a Report of Foreign Bank and Financial Accounts (FBAR for short) be filed if the aggregate balances of offshore accounts exceed $10,000 at any time during the [...]

The Department of Justice and IRS have done it again; they convicted another lawyer accused of helping American taxpayers hide money from Uncle Sam. U.S. law says taxpayers with interest in foreign bank accounts must annually declare those accounts on a Report of Foreign Bank and Financial Accounts, better known as an FBAR. Failing to [...]

The due date for filing Reports of Foreign Bank and Financial Accounts (FBAR for short) is around the corner. As a reminder tom our clients and readers, we annually publish this brief summary. When must FBARs be filed? The due date is June 30th. Since that falls on a Sunday, be safe and file by [...]

by Brian Mahany We have long said that the IRS and Justice Department is not letting up in their assault on taxpayers with unreported foreign accounts. Despite our warnings, many people who call us still elect to take a “wait and see approach.” Our story last week on 79 year old widow Mary Estelle Curran [...]